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Down Goes Vantage Pointe
September 1st, 2010 Categories: Real Estate News
Oh Vantage Pointe…what were you ever thinking…
Yesterday, Vantage Pointe announced that it “halted sales on the 679–unit condo project and is returning deposits to dozens of buyers who had been waiting to close escrow.” The San Diego Union Tribune also noted that this was the second time in the last year that Vantage Pointe has had to give deposits back – Vantage Pointe previously had refunded deposits to about 300 buyers due to new lending guidelines that required a higher pre-sale percentage. It’s hard to say that I’m shocked of the news, rather I’m shocked it took this long.
Three More Months – HR 4213
June 17th, 2010 Categories: Real Estate Finance, Real Estate News
Senate just passed a bill that extends the First Time Home Buyer, Federal Tax Credit. Previously, home buyers who qualified could get an $8000 tax credit if they were in escrow by April 30th of 2010 and closed by June 30th of 2010. Thanks to amendment HR 4213, the American Jobs and Closing Tax Loopholes Act of 2010, now you can close escrow as late as September 30th of this year and still qualify for the credit – but you still would have had to have been under contract by April 30th. This is NOT for the $10K California home buyer tax credit. Good luck!
Is Short Sale Debt Taxable?
April 15th, 2010 Categories: Real Estate Finance, Real Estate News
If you’re like one of the millions of people(actually, I’m not sure how many people are actually doing this) who are trying to short sale their home, I’m sure you’ve been worrying about the taxes that you’ll eventually have to pay. Well, it looks like you may have dodged the bullet! According to a recently passed California bill, Senate Bill 401, for those who qualify, forgiven short sale debt will not be taxable.
Vantage Pointe Condos
October 20th, 2009 Categories: Real Estate News
I’ve been known to be critical of new buildings and I may be too opinionated for some people…but I can’t help it. Look at downtown San Diego’s largest condominium building – Vantage Pointe. This new 92101 development has almost 700 condos and is HUGE! Most downtown San Diego highrises condo buildings have about 150–250 condos – about a third of Vantage Pointe. As the developer, Pointe of View, tries to sell off its inventory, I can’t help but think one thing – foreclosure.
Fire Causes Evacuation in Diamond Terrace Condos
October 2nd, 2009 Categories: Real Estate News
Last night, 13 condos in downtown San Diego’s Diamond Terrace(located at 427 9th Ave) highrise were flooded by the fire sprinklers. Apparently someone was using a heater(I’m assuming a space heater and not the condo’s heater) and placed it too close to the closet. The ensuing fire triggered the sprinklers and 13 condos were evacuated. According the CBS 8 News, no one was injured, but I’m sure a lot of people weren’t too happy.
I wonder why someone was using a heater? It’s not even cold in San Diego! Well, I’m glad no one got hurt and it’s good to know Diamond Terrace’s fire sprinklers work.
Today is the Saddest Day…
September 9th, 2009 Categories: Real Estate News
For months, I’d been trying to sell a condo in the Renaissance building of downtown San Diego. This condo wasn’t my listing, nor do I own it. This condo was simply one of the most condos I’ve seen in the last 5 years. Condo number 1901 is now “pending” and it’s not one of my clients who are buying it.
Congrats to Pat for selling it and to whoever is buying it…YOU ARE SO LUCKY! What was once listed for $2.1 million is probably going to sell for about $1.4 million and it’s worth every penny. Enjoy your new home and hopefully I’ll be able to buy it from you some day…
Touring Bosa’s Bayside Condos in Downtown San Diego Tonight
August 19th, 2009 Categories: Real Estate News
Yes, that’s right…I am going on a tour of the new Bayside at the Embarcadero tonight. Bosa Development has arranged for a special preview for realtors, so we can walk the building, check out the different floorplans and hopefully get pricing on the condos. I’ve already been through a handful of the Bayside condos, but I’m really anxious to see some of the larger penthouses, as well as the west facing B floorplan – Bayside’s version of The Grande’s E plan.
San Diego – Top 10 US Cities to Buy Real Estate
August 17th, 2009 Categories: Real Estate News
So we all know that San Diego is a great place to live, but how can you afford it? Well, according to ABC News, San Diego is one of the top 10 places to buy real estate in the country! With median home prices down 14% from a year ago, San Diego is a great place to buy. Granted, the median home price has gone up for the last three consecutive months, it’s still WAY below the high of $517,500 set back in November of 2005.
San Diego Median Home Price on the Rise
July 21st, 2009 Categories: Real Estate News
According to the Union Tribune, San Diego’s housing market may be on the rebound. According to a UT article last week, San Diego’s median home price has risen “for the third consecutive month in June, hitting $314,250.” Luckily for all you buyers, this is still well below the $517,500 high point back in November of 2005, but how long will this last?
Update On Downtown San Diego’s Bayside Condos
July 8th, 2009 Categories: BOSA Development, Real Estate News
According to my sources(a combination of Bayside’s sales team, my coworkers and Bayside’s preferred lenders), it sounds like about 35% of Bayside is under contract. This means that about 80 of the 232 condos are currently under contract. This doesn’t all 80 will be sold to these individuals, it just means that Bosa was able to get 80 or so people to put down a deposit, with the intent to close on them. But since the economy has changed and a variety of other factors, not all of the 80 people may move forward and actually close escrow on their new condos.
Denny Oh
(858) 243-2092 denny@sandiegoh.com DRE#01420194
